MALACAÑAN PALACE
MANILA
BY THE PRESIDENT OF THE PHILIPPINES
[ Memorandum Order No. 98, July 10, 1987 ]
ADOPTING AN AMORTIZATION PLAN ON THE MOTORCYCLES PURCHASED BY THE NATIONAL STATISTICS OFFICE AND CONSTITUTING THE PAYMENTS MADE THEREON AS A REVOLVING FUND OF THE OFFICE UNDER CERTAIN CONDITIONS.
WHEREAS, the National Statistics Office is a recipient of a World Bank Loan under the Structural Adjustment Loan (SAL II) relative to the strengthening of the Philippine Statistical System;
WHEREAS, part of the aforesaid loan and the counterpart fund from the Philippine government were committed for the purchase of motorcycles deemed necessary in implementing the “Strengthening of the Statistical System” program;
WHEREAS, for the mutual interest of the fieldmen and the government, an easy amortization plan should be adopted whereby the fieldmen shall become sole owners of their service motorcycles after full payment thereon;
WHEREAS, it is in the further national interest for the government that payments made under the amortization plan be constituted as a revolving fund of the National Statistics Office for the purchase of additional motorcycles for distribution to National Statistics Office fieldmen not yet provided with one motorcycle.
NOW, THEREFORE, it is hereby directed that:
1. In order to achieve the objectives of this Memorandum Order, there is hereby adopted in the National Statistics Office, for availment of its fieldmen, an amortization plan on the motorcycles purchased by the Office for its fieldmen with funds set aside for that purpose under the Structural Adjustment Loan (SAL II) and the Philippine Government counterpart fund: Provided, That the amortization plan shall be available only to National Statistics Office fieldmen holding permanent appointments: Provided, further, That the total amount of any loan due on the motorcycles under the amortization plan shall be paid without interest within a period of three (3) to five (5) years.
2. Payments made on the amortization plan provided in Section 1 hereof are hereby constituted as a Revolving Fund of the National Statistics Office, hereinafter referred to as the Revolving Fund, to be utilized exclusively for the purchase of additional motorcycles for National Statistics Office fieldmen until all of them shall have been provided with one motorcycle. The Rovolving Fund shall be deposited with the Bureau of the Treasury, and shall be withdrawable only upon the joint signatures of the authorized representatives of the National Statistics Office and the Commission on Audit: Provided, That the ten per centum (10%) of the payments shall accrue to the General Fund.
3. The Revolving Fund herein created shall cease to exist after all the qualified National Statistics Office fieldmen shall have been provided with one motorcycle each: Provided, That the existence of the Revolving Fund shall in no case extend beyond ten (10) years from the date of effectivity of this Memorandum Order: Provided, further, That after the purpose of the Revolving Fund has been accomplished or after the lapse of the ten (10) year period stated in the preceding proviso, all sums of money in the Revolving Fund and all credits due thereon shall accrue to the General Fund.
4. The National Statistics Office (NSO) in coordination with the National Economic and Development Authority (NEDA), shall promulgate the necessary rules and regulations to implement this Memorandum Order with the concurrence of the Department of Budget and Management and the Commission on Audit.
5. All laws, orders, issuances, rules and regulations or parts thereof inconsistent with this Memorandum Order are hereby repealed or modified accordingly.1aшphi1
6. This Memorandum Order shall take effect immediately.
By authority of the President:
(Sgd.) JOKER P. ARROYO
Executive Secretary
Manila, July 10, 1987
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